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to reduce spending. we couldn't come to an agreement on that. so jack lew came to harry reid and said, here's our suggestion. do a sequestration. harry reid rejected it initially. jack lex said, what if we do half of it in defense spending? so an automatic across-the-board cut if we can't find a way to reduce spending in other ways we'll do an across-the-board cut with half of it in defense and the other half of it from other parts of the budget. harry reid agreed with jack le w, the president's chief of staff, so then it came to the senate and went to the house where we begrudgingly agreed. we didn't want to see this. i don't think the white house wanted to see sequestration as well. but this plan that was put in place, the house, the senate and the white house all agreed to was to find some way to reduce spending by $1.2 trillion in long-term spending. the first option was the select committee, the supercommittee, as it was called. it obviously failed in its task. shortly after that, the house of representatives said that the select committee has failed in this task. we cannot have seques
. if we do not do something today -- not as harry reid said, there is a problem with entitlement reform, and we can wait 20 years. that problem it's today. -- it's today. we need to address this immediately and both sides need to come to theable, and we are waiting for the white house to get there. host: we will be covering that announcement from the cpl on c- span two at 2:00 p.m. eastern time. there it is on screen. let me ask you about the house. "the washington times" reports president obama missed the deadline for the fourth time on the budget. the house is going forward with the plan act. can you explain what that is and are there enough votes to pass it? guest: all it says is the house of representatives hasone its job, actually passing a budget and we did a bill one week ago saying that if the senate does not pass a bill, a do not get paid. that is pressure on the senate. we cannot stop the president from being paid, though we are passing a bill that says he should present a budget that actually balances in a reasonable time, how about 10 years -- last term i was on the budget c
, that harry reid and his pals are supposed to pass one every year. who is doing the investigation for that? host: before we let you go, what do you think about this report that sigtarp put out specifically looking at executive pay at bail out companies? caller: of course it is disgusting. but the senate gets paid for doing nothing. i wonder where they get the idea from? -- raise an important point. anybody who tries to rip off -- guest: you raise an important point. anybody tries to rip out -- representative off the taxpayer is reprehensible. we are coming out very aggressive on anyone in that investigation. those who may be thinking about that or doing that now should take a warning by the fact we are sending people to jail. host: christy romero is special investigator for tarp -- sigtarp for short. coming up next, our america by the numbers segment. looking at the health and life expectancy of americans compared to other countries. we will be right back. >> having observed a steady improvement in the opportunities and well-being of our citizens, i can report to you the state of this old
Search Results 0 to 2 of about 3